Dubai is the commercial, financial and tourism focal point of the Middle East region.
Emerging as a regional business hub alongside London, New York, Hong Kong and Singapore, Dubai has developed a vibrant entrepreneurial environment through the government’s progressive development strategy.
Its geographic position gives companies instant access to the diverse and expansive markets of the Middle East, Northern and Southern Africa, the Indian subcontinent and the CIS countries. Its sophisticated logistics infrastructure is truly world-class, seamlessly integrating Europe with the Far East. Those who choose to come here enjoy a dazzling high standard of living – and an abundance of business opportunities. From the glitz and high life to the comforts of modern urban living, Dubai offers the best of all worlds for networking and business.
With its Manhattan-style skyline and bustling ports, Dubai now attracts more tourists than France, more ships than Singapore and more foreign capital than many European countries.
Dubai is also home to EmiratesNBD, the region's largest bank by assets, and to the Dubai International Financial Centre, an onshore financial centre which serves as the financial and business gateway between the regional emerging markets and the world. Since its launch in 2004, the DIFC has established a current client base of 792 firms, including 16 of the world's largest 20 banking institutions.
As part of the UAE, Dubai is also at the heart of the Arab World's largest banking sector. According to a report publishd by the Union of Arab Banks in March 2011, UAE banks boasted assets of US$462 billion, nearly a fifth of the Arab banking sector's total assets. The UAE also topped by loans, which totalled US$281 billion and by shareholders equity, which stood at nearly US$75.9 billion at the end of March 2011. Deposits with UAE banks were also the largest in the region, standing at US$285.5 billion.